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May 9, 2024 |
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| Home > Small Business Lenders by State > Georgia Business Loan Sources > Cartersville, Business Loans > Branch Bank & Trust Cartersville Business Loans > Hotels And Motels Loan | ||||
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Branch Bank & Trust Business Loan Calhoun
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Calhoun, Georgia Business Gets SBA-Guaranteed Funding from Branch Bank & TrustAn SBA loan from Branch Bank & Trust typically comes with favorable terms and competitive loan rates. In this SBA loan issued by the bank, a Calhoun, Georgia business owner got a $690,000 loan. The SBA helps new or growing businesses raise capital. In this case, an entrepreneur in Calhoun, Georgia was able to borrow $690,000 from Branch Bank & Trust. The SBA made the loan possible by guaranteeing $517,500 of this Georgia small business loan. SBA Loan Borrower COMPANY TYPE: HOTELS AND MOTELS SBA Loan Lender BRANCH BANK & TRUST SBA 7a lending is the most popular loan program offered by the Small Business Association (SBA), a federal lending guaranty program. This loan was issued via the SBA 7a lending program. SBA Loan Program Type This loan was issued as a general business loan. SIC Code 7011 - Hotels and Motels Loan Approval Date 3/1/2000 Loan Approval Gross Amount $690,000 Loan Approval from the SBA Of the total $690,000 loan amount, the SBA guaranteed $517,500. More Information on This SBA Loan The borrower borrowed this money for an existing business. According to the loan information, this was not a franchise loan. At the time of the loan, the company had 2 employees. This SBA loan request did not indicate that the SBA funding recipient promised to use the funding to hire new employees or retain any existing employees. Great, But How Can I Get an SBA Loan for My Business? SBA guaranteed loans are made by private lenders and are guaranteed by the SBA with funds appropriated by Congress. There are SBA loan fees that may apply. SBA lenders must pay the SBA a guaranty fee of 1% to 3.5% of guaranteed amount. The SBA will also make the lender pay annual fees amounting to 0.25% of the loan's outstanding balance. The lender is allowed by law to pass these fees to the borrower. Still, as most small businesses know, these fees are minimal compared to the potential of what capital can do for a business. So, what are you waiting for? Get in touch with an SBA lending bank today! About This SBA Loan Information: All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ. Related Links: Raising VC Money for Social Networking Companies Best Banks for Small Business in Cartersville, Georgia
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